Scam projects in the burgeoning world of cryptocurrencies take many forms and all promise quick, hassle-free profits. Rip-offs come as fake exchanges, pyramid and Ponzi investment schemes, bogus auto-trading robots, fraudulent ICOs, HYIP and a lot more.
When you take a look at Coinergy.io (https://www.coinergy.io/), all you will see are beautiful graphics and promises of making instant profits. In fact, it introduces itself as a place where you “THINK BIG AND EARN BIG MONEY” and includes what the lazy, non-industrious “investors” would love to see.
You “Earn 2% in 100 hours” it adds – deceptive slogans, right?
What is this Coinergy.io thing?
Thanks to the sudden and unprecedented rise in the value of Bitcoin and other cryptocurrencies, many scammers have had a fertile ground to dupe the unsuspecting. They lure them with a promise of making handsome profits after making specific deposits. How the gains are made could either be unknown or through smart trading bots, investing in exchanges, mining cryptos or even engaging in illicit, unknown practices.
As for this neat-looking Coinergy.io, there are higher chances it belongs to the same list of Ponzi schemes. Coinergy operates posing as a legitimate Bitcoin investment portal where naïve investors deposit their precious digital coins and expect 2% hourly profits after 100 hours. To put that into perspective, an investor is promised huge profits after almost a week, payable in form of BTC.
Theoretically, this is a fantastic idea, perhaps Oscar-worthy!
In reality, however, there’s nothing like 2% returns. It is an ashamedly deceptive platform with anonymous owners and unknown testimonials – if there are any. Maybe you haven’t, and I'm a bit too paranoid so you can go right ahead and send them your BTC.
Why Coinergy is a Blossoming Haven of Cryptocurrency Scammers
After depositing your funds, in BTC, of course, the money disappears from your account as the portal’s team of “investment experts” engages in solemn trading somewhere. Allegedly after 100 hours, you receive your first profit.
If you doubt that it isn’t a scammers’ haven, welcome we dissect it:
Test #1: Who Are the Real Owners of This Innovative Idea and Where Are They From?
Coinergy.io has no such data as ‘About Us’ or ‘The Team,’ and this makes it suspicious. Its social media handles lead to nowhere too, and begs the question – why would they hide their identities?
Test #2: Why Promise Ridiculously High Returns?
If you do your math, you’ll notice that the returns Coinergy promises are outrageous. That’s a whopping 17,520% per annum. Tell me, which business idea can sustain such hefty returns?
Test #3: How Old is Coinergy?
It isn’t a surprise that this website was registered at a period when BTC was aiming for the skies. It was registered on 8th August 2017, and it’s privately registered. Bizarrely, it is expected to last a few months only!
“If it looks like a duck, swims like a duck, and quacks like a duck, then it surely is a duck.” Or, let’s allow this Coinergy prove us otherwise!